FEC Okays Upgrade Of Major National Grid

The Federal Executive Council (FEC) has given its okay for the upgrade of national power grid, to help improve electricity supply in the country.

It has also approved N13 billion for the payment of compensation to affected entities under the Lagos Transmission Industrial Project.

This were part of the fallouts of ‎ its meeting held today in Abuja and chaired by President Bola Tinubu.

Minister of Power, Adebayo Adelabu, who made known the outcomes of the meeting, noting the national grid is over 50 years old and struggles with frequent overloads and equipment failures.

‎He said it was in realisation of this that the FEC approved the purchase of 14 high-capacity transformers costing $34 million, plus an additional N5.2 billion.

‎‎”FEC approved N13 billion for compensation under the Lagos Transmission Industrial Project, backed by a $238 million loan from the Japan International Cooperation Agency (JICA).

‎“The request submitted was approved for the sum of 13 billion naira for the Lagos trans-industrial transmission project, which is being funded through a $230 million development loan from the Japanese International Cooperation Agency (JICA).

‎“This project, when completed, will not only improve capacity and credibility of power supply along the industrial axis of Lagos and Ogun, but it will also be good news for industrial development and ensure that industries around that axis enjoy improved supply.

“This funding covers compensation to property owners and communities affected by the transmission lines’ route.

‎“Once completed, the Lagos Industrial Transmission Project will ensure that our industrial estates have the dedicated, stable power they need to drive economic growth and create jobs,” the minister added.

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“The other three papers were actually in respect of approval for procurement of various grids of power transformers to replace weak and dilapidated ones across the national grid.

‎“If this is done, it will not only enhance power supply, but also relieve overloaded power transformers that are operating across the national grid, and this will also enable us to cope with the increased wheeling capacity of the national grid,” Adelabu said.

The minister stated that the new transformers include two 150MVA 330/132/33kV units, five 100MVA 132/33kV units, five 60MVA 132/33kV units, and two 30MVA 132/33kV units.

National grid, power supply, load shedding, Lagos Industrial Transmission Project,